Car rental achieved rapid retail value growth in 2017 as both short-term and long-term car rental became trends in South Korea. Many consumers feel more comfortable using car rental during their trips. As more South Koreans enjoy their leisure time with domestic travel, car rental continued to enjoy strong growth in 2017. Furthermore, car rental companies actively developed and launched new products and services, as well as reinforcing advertising through mass media and social media channels.
Leisure car rental is expected to record a better performance than business car rental over the forecast period. Lotte Rental Co will also likely achieve the best performance over the forecast period as it has sufficient resources from its parent group and a large number of employees.
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This report originates from Passport, our Car Rental research and analysis database.
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